UPDATE: Concerned Irish Citizens issue statement on Quinn release

Published: 3 Jan 2013 09:300 comments

Former businessman Sean Quinn has been released from Mountjoy Prison, a day early. His release has been welcomed by support group Concerned Irish Citizens. They released the following statement:

Sean Quinn who has been released from Mountjoy Prison today (Thursday).

"Concerned Irish Citizens would like to welcome home Sean Quinn from Mountjoy, and hope that 2013 will be the year that the people of Ireland obtain answers to questions such as:

1 How much taxpayers money has been spent on Anglo's strategy on Quinn, how much has been recouped and crucially how does all of this compare with the 2.8 billion that was on offer from Quinn?

2 At a time when Ireland's emigration rate is on a par with the famine years, why was there no attempt made by Anglo/Government to work with Quinn or to avail of mediation when Quinn's proposal committed to retain all jobs and create 1800 additional jobs. Instead approx. 1600 jobs have been lost to date in Quinn companies since they were seized from the Quinn family.

3 Why was Quinn Insurance put into administration when the issue of the alleged cross guarantees, which was brought to the attention of the Central Bank by Quinn, has still not been clarified. The Quinn family have written to a Dail Committee to try to get answers and to assist in getting to the bottom of why there is now a call of up to 1.65 billion on the Insurance Compensation Fund, when a High Court was informed on several occasions by one of the administrators that there would be no call on the ICF. Why was Quinn Group seized prior to the legitimacy of the alleged debt being established in a court of law. We were told that the bondholders took a hit of 50 per cent in the "deal". Is it not the case that they took no hit whatsoever and if so, why were we misled about this matter? "

No more details are available at this stage regarding Mr Quinn's release but it's understood he left the training unit at the prison this morning. He was due to be released tomorrow after he was jailed for nine and a half weeks for contempt of court for his part in moving multi-million euro assets out of the reach of the former Anglo Irish Bank.

Meanwhile, in today's Impartial Reporter, Quinn Group chief executive Paul O'Brien says Mr Quinn and his family will NOT be getting their companies back, even if they win their case against the former bank later this year.

Read the full exclusive interview and the Quinn family's response in today's Impartial Reporter.

Jump to first paragraph.

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